Old Second Bancorp Expands With Evergreen Bank Acquisition, Valued At $197M In Cash-And-Stock Transaction

Author: Benzinga Newsdesk | February 25, 2025 08:11am

Under the terms of the merger agreement, which was unanimously approved by the Boards of Directors of both companies, Bancorp Financial stockholders will receive 2.5814 shares of Old Second common stock and $15.93 in cash for each share of Bancorp Financial's common stock, for total consideration consisting of approximately 75% stock and 25% cash. Based on the closing price of Old Second common stock of $18.08 per share on February 24, 2025, the implied purchase price is $62.60 per Bancorp Financial common share, with an aggregate transaction value of approximately $197 million.

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